The second quarter has ended for the real estate market. Here is where our local markets currently stand. Market data information is from the local WVMLS.
Here is what is occurring in the city of Keizer in real estate…
Average Sales price:
The average sales price in the second quarter is $249,883, UP 19.7% from the first quarter, and up 15.2% from last year’s $216,747. I actually reran this stat twice I was so surprised. I knew it would be good, just not this good.
Having worked with buyers recently in Keizer, I can attest to the fact that good updated and well maintained homes are getting top dollar there. My buyers were in a multiple offer situation on a really nice FSBO home.
90 day Absorption:
Keizer has a monthly absorption rate of 27.6. This places the current Keizer inventory at 9.3 months.
Home Sales Closed:
In the second quarter this year, 83 homes closed on the market. That is down 27 % from the same time frame last year when 114 homes closed in the 2nd quarter.
While prices are increasing sales volume is decreasing. Inventory is not increasing which suggests that rather than drop prices, sellers are just taking their homes off the market.
New Home Construction:
In the 2nd quarter of 2007, only two new construction homes sold in Keizer. 6 sold in the 2nd quarter this year. The current inventory of new construction homes in Keizer is 21 months.
4 condos sold in the 2nd quarter this year, compared with 2 in the 2nd quarter last year. The condo inventory is running at 7.7 months for Keizer right now.
Luxury Market ($500,000+):
There weren’t enough sales for an analysis.
In other words, Keizer is rocking right now. Well…rocking comparatively speaking. It is still a buyer’s market, but Keizer is inching it’s way to neutrality. So if you are in Keizer and have an updated and well maintained home, you can expect to get good offers.
If you need more specific market information, please feel free to call or email me with your specific area, and I will provide you with a more detailed report.
(c) Copyright, 2008. Melina Tomson, All Rights Reserved (ie…be nice and create your own content. Don’t steal mine…)